15 Insurance Liabilities and Reinsurance Assets

In CHF million   30.06.0831.12.0730.06.0831.12.0730.06.0831.12.07
 
 
 
Gross

Gross
Reinsurance
assets
Reinsurance
assets

Net

Net
Claims under non-life insurance contracts   1 2641 2842222301 0421 054
Claims under life insurance contracts   6 6807 1551301196 5507 036
Unearned premiums   25216912251167
Future life policyholder benefits   80 57380 84663862479 93580 222
Deposits under insurance contracts   4 6915 0384 6915 038
Total insurance liabilities and reinsurance assets   93 46094 49299197592 46993 517
of which for the account and risk of the Swiss Life Group's customers  
Future life policyholder benefits    196924196924
Deposits under insurance contracts    8787


Claims under non-life insurance contracts | Claims under non-life insurance contracts represent the liability needed to provide for the estimated ultimate cost of settling claims relating to insured events that have occurred on or before the financial reporting date. The estimated liability includes the amount that will be required for future payments on both claims that have been reported to the insurer and claims relating to insured events that have occurred but have not been reported to the insurer as at the date the liability is estimated. Loss development tables are generally used to make these estimates.

Claims under life insurance contracts | Represents the liability for unpaid portions of claims incurred. It includes an estimate of the liability for claims incurred but not reported (IBNR). The measurement at reporting date is a best estimate of ultimate future claim payments (such as disability annuities).

Unearned premiums | Represents the portion of the premiums written relating to the unexpired terms of coverage.

Future life policyholder benefits | For participating contracts where the contribution principle applies to the allocation of the policyholder bonus, future life policy benefit liabilities are determined by using the net-level-premium method on the basis of appropriate mortality and interest rate assumptions.

The valuation of other long-duration contracts is also based on the net-level-premium method with actuarial assumptions as to mortality, persistency, expenses and investment returns, including provisions for adverse deviation.

Insurance liabilities for which deposit accounting is used | For investment-type contracts with significant insurance risk, savings premiums collected are reported as deposits (deposit accounting).

 
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